As COP17 draws to a close the only game in town is the market-based mechanisms that are false solutions to climate change. The same institutions, corporations and governments who have led the world into economic chaos are leading us towards climate chaos.
However, the cracks in the façade are starting to show. Carbon trading and offsetting, the Clean Development Mechanism (CDM) and Reducing Emissions from Deforestation and Degradation (REDD) have failed to cut carbon emissions, which reached record high levels in 2010, whilst further impoverishing the worlds poorest people, facilitating the largest land grab in history, destroying biodiversity and trampling the rights of indigenous communities.
In this video, critics of the markets and even the architects and gatekeepers of climate finance admit to its failure.